New Mexico Just Legalized Cannabis

<p>New Mexico legalizes recreational marijuana, joining a national movement to rethink antidrug laws that are increasingly seen as impediments to racial justice and the economy.</p> <p>Under the New Mexico law, residents can have up to 2 ounces and 6 plants at home, or up to 12 per household. Sales would begin no later than April 2022 and be taxed at 12%, eventually rising to 18%, plus gross receipts taxes.</p> <p>New Mexico has 34 licensed nonprofit vertically integrated MMJ operators, with 123 dispensaries in operation statewide, according to the most recent state data.</p> <p>The state’s MMJ sales, meanwhile, are rising. Fueled by the pandemic and patient growth, sales are on pace to reach around $200 million this year, with MMJ sales totaling $130 million in 2019.</p> <p>The industry will be regulated by the state and produce an estimated $20 million in revenue for the state in 2023, plus $10 million for local governments, according to a fiscal analysis cited by The Albuquerque Journal.</p> <p>Show Notes:<br /> New Mexico lawmakers approve potential $350 million recreational marijuana market<br /> https://mjbizdaily.com/new-mexico-lawmakers-approve-recreational-marijuana-market/</p> <p>Guest:<br /> Katrina Glogowski, Seattle Attorney & Angel Investor<br /> https://www.linkedin.com/in/katrina-glogowski-711a985/</p> <p>Host:<br /> Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.<br /> https://www.linkedin.com/in/joshkincaid/</p> <p>Episode 691 of The Talking Hedge:<br /> Your Cannabis Business Podcast.<br /> ​Covering cannabis products, reviews, business news, interviews, investments, events, and more.<br /> https://www.theTalkingHedgepodcast.com</p> <p>Music Info:<br /> Song: Beat | Keep On | 2020<br /> Artist: Milochromatic Beats<br /> &<br /> Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018<br /> Artist: LuxrayBeats</p> <p>Keywords:<br /> Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Indust